Tesla has disclosed it expects $890 million in revenue from transactions with Elon Musk-controlled companies SpaceX and xAI, covering 2023 through early 2026. In 2025 alone, Tesla reported $573 million from these entities, with $430.1 million from xAI for Megapack energy storage systems and $143.3 million from SpaceX for vehicle purchases.
Tesla also made a $2 billion investment in xAI, set to convert into a SpaceX stake after the two companies integrate. On the expense side, Tesla reported $24.8 million in costs paid to Musk's entities in 2025.
Related-party transactions require board approval, and Tesla is providing disclosures. However, the key question remains whether the deals are conducted at arm's length, on terms Tesla would offer any other customer.